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KPBSD E-Governance
  • Featured
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1. Board Policy Review
  • ABP 1312.1 Public Complaints Concerning School Personnel
  • BAR 1312.1 Complaints Concerning School Personnel
  • CBP 1312.2 Complaints Concerning Instructional Material
  • DBP 6115 Ceremonies and Observances
  • EBP 6144 Controversial Issues
2. Work Sessions
  • AClassroom Display Technology
  • BFY23 Preliminary Budget update
  • CFY23 Interest earnings
  • DStrategic Plan Update
3. Board Discussion
  • ABoard Discussion
4. Work Session Video
  • AWork Session Video 6-6-2022

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Board of Education Work Sessions

CFY23 Interest earnings

Item Details

Meeting
June 6, 2022 – Board of Education Work Sessions
Category
2. Work Sessions
Type
Information item

Public Content

FY23 Interest earnings (loss) through March 2022 have resulted in a loss of ($964,766.71) for the year.

KPB Finance Director provided the following information:

KPB central treasury investment income and the adjustment for current fair value is allocated to central treasury pool participants based on cash balance in the central treasury for the month being reconciled and allocated.  As the market changes and 1-5 year investments change in value, a fair market value adjustment is required to be recorded per GASB 31 (marking to market).  The negative fair value adjustment will move in the positive direction for each investment as they approach maturity since all investments are invested with the eventual outcome of a positive return upon maturity.  I expect with the changes in the fixed income market that the portfolio will continue to see a negative fair value adjustment for the next few months, but as we reinvest at higher yields upon maturity the portfolio should come out of the negative fair value adjustment since our policy is to hold till maturity.